financing: The Bait and Switch, Part Two. By Dan Polimino.
- 09/30/13 09:47 PM
Last month, I wrote about the “Bait and Switch tactic” sometimes used by lenders to earn a customer’s business. If you would like to re-read that column, go to www.coloradodreamhouse.com and click “blog.” Today, I would like to follow up last month’s blog with part two of the “Bait and Switch” tactic that is used this time by buyers. Sometimes, a seller will receive an offer on their home and the buyer’s contract says that it’s a cash offer. Cash offers tend to be more appealing to sellers since they know that the deal won’t crash because of a lender, it … (38 comments)
financing: Refinancing a condo that has a conventional mortgage
- 02/29/12 06:06 PM
Refinancing an existing mortgage that is either a Federal Housing Administration (FHA) or Veterans Administration (VA) loan it is far simpler than a property that currently has a conventional mortgage. The main reason is that in most cases it will not require a project approval of the Homeowners Owners Association. But the situation may not be hopeless, even if you have a "condotel".
Non agency portfolio products are a great option for someone who has a condo with a mortgage that is not FHA or VA. A portfolio product is a mortgage that a company will hold and service, giving … (0 comments)
financing: Portfolio and Private Money Mortgages
- 08/10/11 11:42 PM
Nature abhors a vacuum. With the tightening in the mortgage market we have seen an increase in portfolio and private, also known as hard money, loans to fill the void created since subprime mortgage products have become extinct. The good news is that borrowers who do not fit in the box for a standard FHA, VA, or conventional mortgage now have options. The bad news is that rates, liquid assets after the closing for reserve requirements, "skin in the game", etc., will probably be higher. Skin in the game is defined as the amount of equity or down payment one has. Once in a great there is still some common sense in the … (1 comments)
Last month, I wrote about the “Bait and Switch tactic” sometimes used by lenders to earn a customer’s business. If you would like to re-read that column, go to www.coloradodreamhouse.com and click “blog.” 
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